Taking the Mystery out of your Money – “Useful Information”

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September 13, 2019
Taking the Mystery out of your Money – “Useful Information”

Image Copyright Ted Grussing Photography – Used with permission

This blog is the third and final in our series on successful investing.  Previously, we have talked about “Common Sense” and “Human Emotion”.  Finally let’s take a look at “Useful Information” – simple knowledge for building an efficient portfolio.

First of all, let’s define what “useful information” is regarding your investments.  It is that which answers all questions in a language you understand and then can easily explain in your own words.

  • It completely translates your advisor’s methods of investing and managing into your own language.
  • It is knowledge of your advisor’s credentials. Credentials demonstrating advanced professional training that you can verify independently.  Credentials outlining their education, experience and the continuing education required to maintain those credentials.
  • It is clarity about how much and by whom your advisor is paid.
  • It is factual information about your advisor’s experience through full market cycles and generally how their client portfolios performed during the last Bear Market.
  • It is a signed fiduciary pledge from your advisor, knowing that he is always a fiduciary with all his clients.
  • It is a written Investment Policy Statement (IPS) thoroughly discussed by you and your advisor which will guide all investment decisions in your portfolio.

Now that you know what useful information is, what will you do with it?

  1. You will not second guess yourself.
  2. Your questions and concerns will be addressed clearly and concisely.
  3. You will have a solid sense that you’re on the right track.
  4. You won’t wonder if you have the right person managing your wealth – YOU WILL KNOW IT.
  5. You will sleep well at night.

And lastly, but very importantly, you will experience “ALL THE TIME PEACE OF MIND”!

Now – that useful information has been transformed into powerful knowledge!

Have a great weekend!